Nigerian stocks climb further on rush for consumer goods shares

Nigerian stocks climb further on rush for consumer goods shares

Nigerian equities expanded by 0.71 per cent on Wednesday, extending the gain recorded at the previous session in an advance dominated by blue-chip consumer goods shares.

Food giant Nestle , Vitafoam, Flour Mills, Unilever and Honeywell Flour contributed hugely to the run.

Market breadth was negative as 20 gainers emerged against 16 laggards.

The all-share index rose by 266.53 basis points to 37,907.28, while market capitalisation climbed to N19.760 trillion.

Year to date, the index is down by 5.87 per cent. TOP FIVE GAINERS

Nestle led gainers, growing by 10 per cent to close at N1,540. Ikeja Hotel gained 9.92 per cent to close at N1.33. Oando rose by 9.67 per cent to N3.29. Wapic leapt to N1.50, notching up 9.49 per cent in the process. May & Baker completed the top 5, climbing up by 9.09 per cent to N0.84. TOP FIVE LOSERS

BOC Gases topped the losers’ table, declining by 10 per cent to close at N8.55. Sovereign Trust Insurance shrank by 7.14 per cent to end the day at N0.26. PZ fell to N5.25, losing 7.08 per cent.

Regal Insurance dipped to N0.46, recording 6.12 per cent loss. Chams closed at N0.20, going down by 4.76 per cent. TOP FIVE TRADES

Altogether, 213.704 million shares worth N3.232 billion were traded in 3,522 deals.

Wema was the most preferred stock with 18.306 million units of its shares worth N10.886 million traded in 69 deals. Oando traded 15.619 million shares priced at N47.761 million exchanged hands in 248 transactions.

Mutual Benefits had 15.101 million shares valued at N6.315 million traded in 25 deals. Access traded 13.743 million shares estimated at N116.549 million in 195 transactions. UBA traded 13.559 million shares valued at N98.945 million in 133 deals.

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